It's still earnings week, and that means LG has some numbers to share with us. LG had already stated that the demand for the LG G4 wasn't as high as they had hoped for. So how'd the South Korean smartphone manufacturer do in the 3-months ending on June 30th? Well their revenues were 6.708 trillion won. That's about $5.75 billion USD. That is a 4% decrease over the 7.022 trillion won brought in, in the previous quarter. "Decrease" seems to be a common theme in this quarter's results for LG, unfortunately.
Their net income for the quarter was 363 billion won, a decrease of 24% compared to the first quarter when they had a net income of 476 billion won. However, this is a 42% increase over Q2 of 2014. Operating profit for the company was 488 billion, that's a 34% decrease from the previous quarter, where they had an operating profit of 744 billion won. Compared to Q2 2014, however, that's a 199% increase.
The sector of LG that builds displays for TV's smartphones and other manufacturers, had good news. LG Display announced that this is their 13th consecutive quarter with an operating profit at 488 billion and revenues for the quarter at 6.708 trillion won. This is interesting considering the company is selling less displays compared to earlier quarters. The company also stated that panels for TV's accounted for 40% of their revenue in the quarter. Mobile device panels were 28%, tablets and notebooks at 16% and monitors were also 16%.
We saw a lot of numbers go lower than the previous quarter, but all in all, LG did quite well. Still bringing in over 6.7 trillion won in revenue. LG has also reiterated that they will be announcing a super premium smartphone before the end of the year. This is partly due to the LG G4 not being as popular as execs had hoped it would be. We've heard plenty of rumors of this device, and is likely going to be named the LG G4 Pro with a larger display, and 4GB of RAM. We could see a Snapdragon 820 inside, however it could be a bit too early for that.
LG has yet to post the press release on their site, but as soon as they do, we'll be sure to add it to the source section below.
EDIT: The source has been updated.